Author: lbostgadmin
Mixed Blessings
Emirates Airlines on Monday announced a fuel surcharge on airline tickets purchased from selected markets, including Sri Lanka.Passengers buying tickets from Sri Lanka, pay an additional Rs.500 for a one-way journey and Rs. 1,000 per return ticket, the airline said.rn rnldblquote Emirates Airline is not implementing across-the-board ticket price surcharges in response to rising fuel […]
Looking Good
Sampath Bank on Monday secured an A+ (sri) for its long-term debt and an A (sri) rating for its four-year debenture issue from Fitch Ratings.An A+ (sri) rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered strong. This capacity may, nevertheless be more vulnerable to changes […]
Achilles Heel
Sri Lanka Telecom plans to send out the backlog of customer bills from the end of this month, but subscribers will be billed on a shorter cycle.SLTs new US$ 20 mn billing system went through technical glitches in its implementation stage, leaving over 800,000 customers chatting non-stop since last December.rn rnThe new system includes an […]
Study Hall
The Institute of Personnel Management (IPM) is trying to leverage growing local and regional interest in people management to position Sri Lanka as a human resource (HR) activities hub in the region. IPM will host its annual lquote HR Conference and Service Providers Exhibition at the BMICH on May 19th and 20th followed by the […]
Interesting News
Commercial Bank of Ceylon saw its earnings take a dip during the first quarter of 2004, largely due to losses from its primary dealer subsidiary and higher taxes.Group profits were down 6.9 percent to Rs. 319 mn for the three month period to March 31, from Rs. 343 mn reported during the same period 2003.rn […]
The Bright Side
US policy towards South Asia might offer a window of opportunity for peace and economic prosperity in Sri Lanka.rn rnOn December 7, 1941 Japan attacked the Pearl Harbor and dragged America into World War II, which shook US foreign policy at its base.rnOut of the ashes of the World War II the United States and […]
Fire Fire!
The Insurance Board of Sri Lanka (IBSL) is studying the Sri Lankan industry and international practices to modernize and reform the insurance regulatory framework in the country.IBSL is trying to bring modern regulatory practices to an industry that has seen little regulatory supervision during the last half century.rnWhen the IBSL took over, there were concerns […]
Bonding Asia
The Asian Development Bank (ADB) today launched AsianBondsOnline, a one-stop clearing house of information on the rapidly growing sovereign and corporate bond markets in the region.rnrnThe ABMI aims to enable private as well as public sectors to raise and invest long-term capital while effectively managing maturity and currency risks. rn rnDeep, liquid bond markets mitigate […]
Not For Sale
Sri Lanka will terminate a divestment program initiated by the previous government, the treasury secretary said Friday.But the new government headed by President Chandrika Kumaratunga that came to power last month will increase public spending on poverty-reduction measures, which arent expected to widen the budget deficit, he said.rn rn”Privatization is not the policy of the […]
Chief Troubleshooter
Sri Lanka Friday named a former United Nations disarmament chief to spearhead new peace talks with Tamil Tiger rebels.Jayantha Dhanapala, a UN undersecretary general for disarmament affairs until last year, was named secretary general of the governments “peace secretariat,” President Chandrika Kumaratungas office said.rn rnDhanapala, a Sri Lankan, was also named a senior adviser to […]
Profit Centre
Moving ever closer to a long proposed IPO, Software solutions developer Virtusa Corporation recently completed its Series D round of financing, securing US $20 million. The fourth round of funding for Virtusa was led by Focus Ventures, with participation from existing investors Sigma partners, Charles River Ventures and Globespan Capital Partners.rn rnThe fresh infusion increases […]
Teething Problems
rnrn The countrys largest telecom operator has failed to bill its customers since last December, due to delays in implementing its new US$ 20 mn billing system.rn With over 830,000 subscribers on its network, SLT is not expected to get is act right until August, says analysts Vajira Premawardhana and Shamlee Hasheem of Lanka OrixrnSecurities.rn […]